Snap (NYSE:SNAP) Price Target Raised to $15.00 at Wells Fargo & Company

Snap (NYSE:SNAP) had its price target raised by Wells Fargo & Company from $14.00 to $15.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

SNAP has been the topic of several other research reports. Guggenheim reiterated a “buy” rating and set a $12.11 target price on shares of Snap in a report on Tuesday, December 3rd. Canaccord Genuity Group lifted their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Roth Mkm reissued a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Finally, Truist Financial increased their price target on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.13.

Snap Stock Down 2.6 %

Shares of Snap stock opened at $12.15 on Monday. Snap has a 52-week low of $8.29 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The business’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $11.47. The firm has a market cap of $20.38 billion, a PE ratio of -20.95 and a beta of 0.98.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Snap will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In related news, Director Joanna Coles sold 6,434 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now directly owns 54,761 shares of the company’s stock, valued at approximately $657,132. This represents a 10.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 112,020 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,451,618 shares of company stock worth $17,560,157. Insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Institutional investors and hedge funds have recently made changes to their positions in the business. Metis Global Partners LLC grew its holdings in Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after purchasing an additional 1,255 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after buying an additional 1,433 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Snap by 6.8% in the third quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after buying an additional 1,614 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the period. Finally, TRUE Private Wealth Advisors lifted its stake in shares of Snap by 3.5% during the 3rd quarter. TRUE Private Wealth Advisors now owns 51,941 shares of the company’s stock worth $556,000 after acquiring an additional 1,749 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.